Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor agonists and antagonists. Commonly employed in the development of drugs targeting neurological disorders such as Alzheimer's and Parkinson's disease. Also utilized in agrochemicals for the creation of pesticides and herbicides due to its ability to modify bioactive molecules. Its reactive chloromethyl group allows for easy functionalization, making it valuable in organic synthesis and medicinal chemistry research.